The ATPC hosted Consumer Financial Protection Bureau (CFPB) Director Kathy Kraninger on Tuesday, September 10th for a roundtable discussion with approximately 30 payments executives from the American Transaction Processors Coalition (ATPC) community at the offices of its premier sponsor, Holland & Knight. The Director joined the group immediately following a press conference to announce the opening of a new Southeast office and new initiatives intended to increase dialogue with, and structured feedback from the payments processing industry.
Director Kraninger’s primary message for the roundtable participants was her strong commitment to consumer protection and a desire for increased industry engagement to ensure regulations and directives are implementable and effective. This stance was exemplified by three policies announced earlier that day: a Compliance Assistance Sandbox Policy; a No-Action Letter Policy; and a Trial Disclosure Policy. Director Kraninger made introductory remarks and then participated in a roundtable discussion with attendees, where key topics included: Electronic Transfer Funds; prepaid cards; Faster Payments; trends in fraud; ongoing studies and data collection at the Bureau; and cybersecurity.